Two years after launching its search for a company to take over the operation of the ferry system connecting Puerto Rico with Vieques and Culebra, as well as San Juan and Cataño, the government’s Public-Private Partnership Authority announced it has chosen HMS Ferries to take over the responsibility, through a 23-year agreement. Aside from managing […]
The process to apply and be a part of the United Retailers Association’s (CUD, in Spanish) Business Internship has already begun with the support of the Department of Economic Development and Commerce (DDEC). CUD President Jesús Vázquez, along with DDEC Secretary Manuel A. Laboy, invited youth to participate in the initiative open to people between […]
The Food Bank of Puerto Rico is urging the community to contribute to its Thanksgiving “Collection with Gratitude” (“Recogido de Gratitud”) campaign to provide food and essential items to people in need. The food supply chain works through donations and volunteers that provide goods to more than 162 churches and institutions. At the same time, […]
Financial institution Oriental announced that starting at noon today, it will begin its integration of the former Scotiabank platform. The process will take place over the weekend and will be completed at 8:30 a.m. Monday, bank officials said. To achieve the migration, former Scotiabank branches will be closed Saturday and Sunday, it was further announced. […]
The Federal Communications Commission’s Enforcement Bureau announced that T-Mobile will pay a $200 million penalty to the U.S. Treasury to resolve an investigation of its subsidiary Sprint’s compliance with the commission’s rules regarding waste, fraud, and abuse in the Lifeline program for low-income consumers. The payment is the largest fixed-amount settlement the FCC has ever […]
The U.S. Bankruptcy Court in Puerto Rico saw a whopping 31% drop in activity in October, when 419 cases were filed, in comparison to the 762 cases filed for the same month last year. During the first 10 months of the year, filings dropped by 32.7% to 4,342 cases, when compared to the 6,452 petitions […]
Seeking to strengthen local businesses by providing them free entrepreneurial education and personalized assistance, for the new challenges they face due to COVID-19, the Small Business and Technology Development Center (SBTDC) recently launched the Business Relief Assistance Program. This initiative will focus on providing business owners with the assistance and the support needed for access […]
The government of Puerto Rico announced the allocation of an additional $50 million to the tourism industry assistance program for businesses impacted by the decline in that sector due to the COVID-19 pandemic. “The program seeks to provide operational support for business interruption as a result of COVID-19,” Gov. Wanda Vázquez said. “In addition to […]
Liberty Latin America completed its acquisition of AT&T’s wireless and wireline operations in Puerto Rico and the U.S. Virgin Islands over the weekend, in a deal worth $1.95 billion and that will add more than 1 million wireless subscribers and contracts to the new owner’s footprint. The deal also includes AT&T’s estimated 1,300 employees; network […]
The 2020 pandemic separates us, but the Web keeps us together. In these weird times, dressmakers, tailors and fashion designers turn to high technology to offer clothing that will help us survive the medical dangers of travel or to deal with social distancing. OVERALLS — One of the most recent novelties is a suit designed for travel […]
The Federal Communications Commission announced it has selected Liberty Puerto Rico and Claro Puerto Rico to receive a combined $127 million in funding through its Uniendo a Puerto Rico Fund to deploy broadband connectivity throughout the island. The companies participated in the FCC’s competitive Stage 2 funding round, which will allocate the money over 10 […]
As Puerto Ricans exercise their right to vote in tomorrow’s general elections, many eyes will be fixed on how the chain of events that have hit the island since the last cycle — including the hurricanes, political crises and the failed primaries, as well as the COVID-19 pandemic — will affect the so-called political tradition. […]
In the 45 days since it completed its acquisition of Banco Santander de Puerto Rico’s assets, First BanCorp has made strides in the integration of both operations, having already completed the conversion of the mortgage business, the insurance agency, and several administrative duties. The plan is to complete the integration process by the end of […]
Financial transactions processing firm Evertec reported total revenue for the quarter ended Sept. 30, 2020 of $136.5 million, an increase of 15% compared with $118.8 million in the prior year. The company attributed the revenue increase in the quarter to sales volume growth and a “high average ticket” as businesses reopened in Puerto Rico following […]
The sixth edition of ABRE Puerto Rico’s Fiscal Health Index revealed that eight municipalities scored an “A” for the handling of their finances, while 10 towns were on the opposite end of the spectrum, with a failing grade. The index follows 13 indicators based on information derived from the municipality’s audited financial statements to rank […]
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